Last update: 21.07.2024 15:04 (GMT+3)
Viisnurk NEWS RELEASE 04/16/2004
CLOSING OF WOOD DIVISION
According to the decision of The Supervisory and Management Board of AS
Viisnurk the company's Wood Division is closed since April 16th, 2004.
Viisnurk's Wood Division was formed by sawmill, drying kilns complex and
Wood Panels Factory. The reason for closing the Wood Division was the
continuous earning of loss.
In relation to the closing of the Division, 170 workers were dismissed.
The total of redundancy cost was 2 MEEK.
AS Viisnurk has initiated the Wood Divisionļs sales process and
introduction to the potential buyers. The assets may be sold in one block
or separately according to negotiations with interested parties. For
additional information on the sales process of the Wood Division please
contact AS Trigon Capital:
AS Trigon Capital
Pärnu mnt 15
10141 Tallinn
Estonia
Phone: +372 6679 200
Andrus Aljas
CFO
+372 4478 355